EUR/USD falls further, fresh 1-month lows

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Córdoba) - Following a calm phase during the Asian session, the EUR/USD resumed the downside and has fallen to fresh 1-month lows, dragged by broad USD strength.



Yesterday's disappointing ZEW data and Fed Yellen testimony unleashed a wave of EUR/USD selling that extended throughout the last sessions. The EUR/USD broke decisively below the 1.3560 area and stretched to a low of 1.3533 as pressure mounted over the last hours. At time of writing, the pair is trading at 1.3535, recording a 0.23% loss on the day and accumulating a 0.49% decline this week.



EUR/USD technical levels



In terms of technical levels, a break below 1.3535 would expose 1.3512 (Jun 16 & 12 lows) and 1.3502/00 (Jun 5 low/psychological level). On the other hand, resistances in case of bounces are seen at 1.3572 (Jul 16 high), 1.3600 (psychological level) and 1.3615 (21-day SMA).



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: FOMC, GDP, Greece and Much More Ahead

  2. Forex News

    Trading Video: Sentiment, Dollar and Euro All At-Risk Next Week

  3. Forex News

    IBM, Google and Others Take an FX Revenue Hit in Q1

  4. Forex News

    Investors are eager to know when the Federal Reserve will act - FXStreet

  5. Forex News

    US data will likely delay Fed action- Rabobank

Trading Center